Microsoft’s UK boss has urged the nation’s tech sector to “act assertively” and embrace artificial intelligence technology in order for the UK to stay ahead of international competition.
AI represents a £550bn opportunity for the UK economy over the next decade, according to new research commissioned by Microsoft, and Clare Barclay, chief executive of Microsoft UK, said to capitalise on this, “the UK technology sector must act assertively to stay ahead of the competition”.
“We need to push on with new investments, improve commercial awareness of AI and invest in digital skills that will unlock transformative benefits for the economy and public services,” she added.
Currently the UK has the most advanced tech sector in Europe, second globally only to the US, so it is well-positioned for AI success, according to Microsoft.
But the report, carried out by consultancy Public First, also found delays to the AI roll-out over the next five years could cost the UK £150bn by 2035.
“The UK risks foregoing significant economic gain if we let progress slip over the next five years,” said Hugh Milward, vice president for corporate, external and legal affairs at Microsoft.
“Planning, power, and permitting are critical to unlocking the sector’s ability to invest quicker and make the most of the opportunity for the UK,” he added.
Barclay, who has led Microsoft’s UK operations since October 2020, is set to deliver a speech at the fast-approaching London Tech Week next month, which is set to be the biggest ever.
She will address an audience of tech industry companies and start-ups, political figures and international delegations attending the event, which will take place at Kensington’s Olympia venue next month.
At the event, the tech veteran is hoping to see ongoing commitment to AI ambitions from businesses, political leaders and regulators, so that Britain remains internationally competitive.
“I’m always excited by fresh thinking, new ideas and inspiration from across the tech sector,” Barclay said. “London Tech Week is a powerful moment to take stock and ask whether as a nation we are set up for success.”
This year, London Tech Week is moving to a bigger venue amid “tremendous interest” from companies of all sizes, according to the event organiser, the Founders Forum Group. As many as 45,000 are expected to attend and take part.